Ghana | Forest rents (% of GDP)

Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
Republic of Ghana
Records
63
Source
Ghana | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 2.74013406
1971 2.22825811
1972 3.34865735
1973 4.85439249
1974 4.24560315
1975 5.30832477
1976 5.58231624
1977 7.21425607
1978 6.10519426
1979 5.42007219
1980 5.41173597
1981 4.96759871
1982 7.28956359
1983 5.50175139
1984 4.60276649
1985 3.47862575
1986 4.21868969
1987 4.60614135
1988 4.83895966
1989 4.85220547
1990 6.074638
1991 4.64134324
1992 5.93850517
1993 6.94630961
1994 9.57657019
1995 11.37866753
1996 10.76370229
1997 10.3983391
1998 10.19601185
1999 6.26575781
2000 9.73486409
2001 9.39320531
2002 9.85705228
2003 13.89617005
2004 10.8305886
2005 9.36380408
2006 5.00765743
2007 6.24981033
2008 6.57573796
2009 7.60843149
2010 5.77442765
2011 5.50203429
2012 6.22274709
2013 4.42141324
2014 5.66614902
2015 6.82969261
2016 6.37927613
2017 5.90830368
2018 3.80854813
2019 3.48167988
2020 3.79790807
2021 3.75605517
2022

Ghana | Forest rents (% of GDP)

Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
Republic of Ghana
Records
63
Source